So in short slowly slowly is the way to go, and get it out of your head that more hash = more BTC because it dosnt, blocks are found at time intervals and devs set this n the code for example:
unsigned int nTargetSpacing = 10 * 60; // Some Shit Coin
That coin is set to give out a block every 10 minutes regardless of what hash rate is on there.
Hope that helps a little
unsigned int nTargetSpacing = 10 * 60; // Some Shit Coin
That coin is set to give out a block every 10 minutes regardless of what hash rate is on there.
Hope that helps a little
It does help a little.
I get that network wite there is only one block every 10 minutes. But, if I increase my personal hashrate shouldn't I (statistically speaking) get a higher portion of the network's earnings? Otherwise, why would anyone contribute more than a trivial amount of hash?
So if spending more doesn't increase earnings then why would anyone mine? I mean getting 25% is great, but if you can only do that on $2 per day then its still only 50 cents.
--Jacob
Yes you are right in some respect and if your on a large pool then yes the larger amount of hash your provide the bigger slice of the block you get but its still all relative to the difficulty as the more power you send the pool the more the difficulty rises which then means you have to spend more to get more power to get to the new difficulty.
Here is an example of how i fucked up last night, now you have to bear in mind i have my own pool so only me mining this particular coin.
I put 11TH/s of rented hash on titcoin and got 85 blocks in a 3hr window, now I lost BTC on that and the reason is I needed less than half the 11TH/s to get the same block number results, in fact right now I am mining it again @3TH/s and getting the same amount of blocks at the same time intervals I did with the 11TH/s but this time i have cut my costs by 3/4 and am now in profit.
I also take on board what you say about LEA only making $2 but multiply that by a full day and then multiply again by in my case around 25 different coins doing the same thing and it makes some decent beer tokens for the weekend
The TIT coin is almost an exact copy of your issue, I threw too much hash at it
Crunck